Chewy Shares Rise 2 Percent on Strong Surge in Revenue

According to media reports, Chewy.com shares were up 2 percent in after-hours trading on Thursday after the online retailer of pet food and other pet-related products reported fiscal second-quarter results that beat Wall Street estimates. Chewy reported a loss of $32.8 million compared to a loss of $82.9 million in the year-ago quarter. Revenue surged 47 percent to $1.7 billion from $1.15 billion a year ago. Analysts surveyed by FactSet had expected a loss of 17 cents a share on revenue of $1.64 billion. Chewy shares are up 106 percent this year. The broader S&P 500 index SPX, -1.75 percent has improved 3 percent in 2020.